On March 1, 2023, Spoelstra, Inc. borrows $1,110,000 on a three year, 8% loan to finance construction of a new building. Spoelstra also has $2,000,000 of 5% debt outstanding for all of 2023.

During 2023, the following events occur:

5/1/23 - Spoelstra makes a $308,000 payment to the construction contractor, and work begins on the project.

9/1/23 - Spoelstra makes a $439,000 progress payment to the construction contractor.

11/1/23 - Spoelstra makes a final payment of $378,000 to the contractor upon completion of construction.

How much interest cost should be capitalized into the cost of the building?